New York, United States , Feb. 27, 2023 (GLOBE NEWSWIRE) -- The Global Aramid Fiber Market Size to grow from USD 3.62 billion in 2021 to USD 5.86 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. The aramid fiber market has grown because of the increasing product demand from a variety of industries, including oil & gas, healthcare, manufacturing, and others.
Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.
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COVID-19 Impact & Analysis
On credit portfolios, the COVID-121.9 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
Browse 48 market data Tables and 58 Figures spread through 260 Pages and in-depth TOC on the “Global Aramid Fiber Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Para-aramid and Meta-aramid), By End-user Industry (Security and Protection Equipment, Aerospace, Automotive, Electronics and Telecommunication, and Other End-user Industries), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”. View a detailed Table of Content here.
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The para-aramid segment to account for the largest market size during the forecast period
Based on the product type, the global aramid fiber market is categorized into Para-aramid and Meta-aramid. The para-aramid segment to account for the largest market size during the forecast period. Over the forecast period, it is anticipated that the good strength-to-weight ratio and high tensile strength and modulus behavior will favor the segment's growth. The product possesses qualities that are expected to increase demand, including low elongation to break, good chemical resistance, good heat & flame resistance, and excellent ballistic capabilities. Additionally, it is anticipated that its strong cut resistance and good chemical resistance would encourage its use in various applications, including frictional materials, aerospace, security & protection, etc.
The security and protection equipment segment to hold a higher CAGR during the forecast period.
Based on the end-user, the ceramic ink market is categorized into Security and Protection Equipment, Aerospace, Automotive, Electronics and Telecommunication, and Other End-user Industries. The security and protection equipment segment to hold a higher CAGR during the forecast period. The application segment is anticipated to rise thanks to the rising use of the product in protective apparel. Aramid fiber is increasingly used in aerospace components, including the leading and trailing edge panels, landing gear doors, and new-generation aircraft's primary wing and fuselage structure. The product's characteristics, such as its exceptional strength, impact resistance, and lightweight, are anticipated to lead to a high consumption rate.
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Europe to hold a higher CAGR during the forecast period.
The Global Aramid Fiber Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. Due to the increased use of security and protection measures across several industries, growth is anticipated. The demand for products in APAC is also projected to be influenced by growing internet usage in emerging economies, fast industrialization, and substantial expansion in the telecom sector. Increasing geopolitical tensions and rising military spending in big economies like China and India are projected to present growth possibilities for the market. Additionally, throughout the forecast period, significant investments are expected to fuel demand for the product in the building, industrial, and healthcare sectors.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Aramid Fiber Market include Teijin Ltd., Yantai Tayho Advanced Materials Co, E. I. du Pont de Nemours and Company (DowDuPont), Hyosung Corp., Toray Chemicals South Korea, Inc., Kermel S.A., Kolon Industries, Inc., Huvis Corp., China National Bluestar (Group) Co., Ltd., and SRO Aramid (Jiangzu) Co., Ltd.
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